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Mortgage Market Update
My Mortgage Company
Justin Connolly
Tuesday, November 3, 2026
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Picking the right loan for your home |
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Hi there. This week I want to talk about something that often gets overlooked: the type of loan itself.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
7.13%
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Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Loan Programs
The loan program that might fit your situation
Not all mortgages work the same way, and that matters. Depending on where you are in life—whether you're a first-time buyer, looking to move up, dealing with a lower credit score, or stretching to afford your next home—there may be a loan program designed with you in mind. Some offer flexibility on down payments. Others help if your debt-to-income ratio is tight. A few make sense only if you're planning to stay put for years. The right fit can mean the difference between a mortgage that works and one that feels like a strain. I'd like to talk through what's available to you based on your specific situation. Reach out and let's explore which program makes the most sense for where you are today.
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Tip of the Week
Refinancing resets your amortization clock. If you're 10 years into a 30-year loan, consider a shorter term to avoid paying more total interest.
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Tips for Homeowners
Co-Signing a Mortgage: What You're Really Agreeing To
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1.
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Co-signing makes you equally responsible for the debt. If the primary borrower misses payments, your credit score takes the same hit and the lender can pursue you for the full balance.
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2.
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The co-signed mortgage debt appears on your credit report and counts toward your DTI. This can limit your ability to qualify for your own financing until the loan is paid off or refinanced out of your name.
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3.
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There's no automatic way to remove yourself as a co-signer — the primary borrower must refinance the loan in their name alone. Get this understanding in writing before you sign.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Justin Connolly
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